Lyrical Asset Management LP Has $263.29 Million Stock Holdings in Cigna Group (NYSE:CI)

Key Points

• Lyrical Asset Management LP reduced its holdings in Cigna Group by 0.9%, now owning approximately 800,287 shares, which constitute about 4.1% of its investment portfolio.
• Cigna Group reported $7.20 EPS for the latest quarter, exceeding analysts' expectations, with a revenue of $67.13 billion, marking an 11% increase compared to the previous year.
• A quarterly dividend of $1.51 has been announced, representing an annualized yield of 2.1%, with the dividend payment set for September 18th.

Lyrical Asset Management LP lowered its position in Cigna Group (NYSE:CI - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 800,287 shares of the health services provider's stock after selling 7,362 shares during the period. Cigna Group accounts for 4.1% of Lyrical Asset Management LP's portfolio, making the stock its 12th largest holding. Lyrical Asset Management LP owned 0.30% of Cigna Group worth $263,294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. increased its holdings in Cigna Group by 13.7% in the first quarter. Cookson Peirce & Co. Inc. now owns 2,818 shares of the health services provider's stock worth $927,000 after buying an additional 340 shares during the last quarter. OneAscent Investment Solutions LLC acquired a new position in Cigna Group in the first quarter worth approximately $340,000. Vestmark Advisory Solutions Inc. acquired a new position in Cigna Group during the first quarter valued at approximately $218,000. Lord Abbett & CO. LLC grew its holdings in Cigna Group by 49.3% during the first quarter. Lord Abbett & CO. LLC now owns 10,629 shares of the health services provider's stock valued at $3,497,000 after purchasing an additional 3,512 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after purchasing an additional 865,092 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CI shares. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays lowered their price target on Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $378.33.

Cigna Group Price Performance

Cigna Group stock traded up $6.67 during mid-day trading on Friday, hitting $297.02. 2,918,002 shares of the company were exchanged, compared to its average volume of 2,115,989. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a market capitalization of $79.28 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $302.03 and a 200 day moving average of $311.13.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The company had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the company posted $6.72 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's dividend payout ratio (DPR) is 32.97%.

About Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.